October 8, 2024
Energy and Power

Solar Carport Market Size, Share, Growth Report By 2033

Prathameshby Prathamesh
The global solar carport market size is expected to increase USD 1,173 million by 2033 from USD 458.7 million in 2023 with a CAGR of 9.90% between 2024 and 2033.

Key Takeaways

  • North America contributed more than 32% of market share in 2023.
  • Asia-Pacific is estimated to expand the fastest CAGR between 2024 and 2033.
  • By application, the commercial segment has held the largest market share of 76% in 2023.
  • By application, the residential segment is anticipated to grow at a remarkable CAGR of 11.4% between 2024 and 2033.
  • By type, the T-shape segment generated 42% of market share in 2023.
  • By type, the semi-cantilever segment is expected to expand at the fastest CAGR over the projected period.
  • By vehicle arrangement, the two-row vehicle arrangement carports segment generated over 63% of the market share in 2023.
  • By vehicle arrangement, the one-row vehicle arrangement carports segment is expected to expand at the fastest CAGR over the projected period.
Solar Carport Market Size 2024 To 2033

Introduction:

The solar carport market has witnessed a surge in interest and adoption in recent years, driven by the increasing need for sustainable energy solutions and efficient land use practices. Solar carports combine the benefits of solar energy generation with parking infrastructure, offering a dual-purpose solution that maximizes space utilization and reduces carbon emissions. This analysis delves into the factors fueling the growth of the solar carport market, explores key drivers behind its adoption, identifies potential constraints, highlights emerging opportunities, and examines regional trends shaping the industry landscape.

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Growth Factors

Several factors contribute to the growth of the solar carport market. Firstly, the rising awareness of climate change and the need to transition towards renewable energy sources have propelled the demand for solar solutions across various sectors. Solar carports provide an innovative way to generate clean energy while utilizing underutilized or previously unproductive spaces such as parking lots. Additionally, advancements in solar technology, including improvements in solar panel efficiency and reductions in manufacturing costs, have made solar carports more economically viable and attractive to businesses, municipalities, and institutions seeking to reduce their carbon footprint and energy costs.

Solar Carport Market Scope

Report CoverageDetails
Growth Rate from 2024 to 2033CAGR of 9.90%
Global Market Size in 2023USD 458.7 Million
Global Market Size by 2033USD 1,173.6 Million
U.S. Market Size in 2023USD 102.75 Million
U.S. Market Size by 2033USD 267.7 Million
Base Year2023
Forecast Period2024 to 2033
Segments CoveredBy Application, By Type, and By Vehicle Arrangement
Regions CoveredNorth America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Solar Carport Market Dynamics

Drivers

Several drivers are accelerating the adoption of solar carports worldwide. One of the primary drivers is the increasing emphasis on sustainability and corporate social responsibility among businesses and organizations. Solar carports offer a visible demonstration of commitment to environmental stewardship and can contribute to achieving sustainability targets and carbon reduction goals. Moreover, the integration of solar carports with electric vehicle (EV) charging infrastructure presents an opportunity to support the transition to electric mobility while further enhancing the environmental benefits of solar energy generation. Additionally, government incentives, such as tax credits, grants, and rebates, incentivize investment in solar carport projects, driving market growth.

Restraints

Despite the positive momentum, several challenges and restraints exist within the solar carport market. One significant restraint is the initial capital investment required for deploying solar carport systems, which can be prohibitive for some businesses and organizations, particularly small and medium-sized enterprises. Additionally, regulatory barriers, permitting challenges, and grid connection issues may hinder the widespread adoption of solar carports in certain regions. Furthermore, concerns regarding aesthetics, durability, and maintenance of solar carport structures may deter potential adopters, highlighting the importance of addressing these considerations to unlock the full potential of the market.

Opportunity

The solar carport market presents significant opportunities for innovation, job creation, and environmental impact. Beyond energy generation, solar carports offer ancillary benefits such as shading for parked vehicles, protection from the elements, and potential revenue streams through EV charging services and excess energy sales. Moreover, the modular nature of solar carport systems allows for scalability and customization to suit various applications and site requirements. As electric vehicle adoption continues to rise, the synergies between solar carports and EV charging infrastructure are expected to drive further market expansion, creating opportunities for collaboration between renewable energy developers, automotive companies, and infrastructure providers.

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Recent Developments

  • In April 2023, The Port Authority of New York and New Jersey (PANYNJ) reveals a partnership with TotalEnergies to initiate the construction of New York’s most extensive solar carport project at John F. Kennedy International Airport in 2023.
  • In June 2022, Maruti Suzuki installs Asia’s largest 20 MWp solar carport at their Manesar plant, contributing 28,000 MWH2 annually to the company’s energy needs.
  • In January 2022, Antai Technology Co. Ltd achieves a groundbreaking milestone by shipping 5,036MW of solar systems, securing a significant share in the major solar industry market.
  • In April 2021, Sol Systems completes 6.5MW of solar arrays across seven Walmart stores in California, incorporating rooftop and parking lot carport solar panels. The energy generated will exclusively cater to the retail stores. Sol Customer Solutions, a joint venture with Capital Dynamics, developed the portfolio, with construction commencing in 2020.

Solar Carport Market Companies

  • Envision Solar
  • SunPower Corporation
  • Solar Electric Supply
  • Solaire Generation
  • Martifer Solar
  • Schletter Inc.
  • Orion Solar Racking
  • SolarCity (now part of Tesla)
  • Hanwha Q Cells
  • Phoenix Solar AG
  • Quest Renewables
  • Kokam Co., Ltd.
  • Ecolibrium Solar
  • Carport Solar
  • Premier Carports

Segments Covered in the Report

By Application

  • Residential
  • Commercial
  • Others (Government Agencies, Non-profit Organizations)

By Type

  • Cantilever Solar Carports
  • T-shape Solar Carports
  • Semi Cantilever Solar Carports
  • Others (Portable Solar Carports, Customized Solar Carports)

By Vehicle Arrangement

  • One-row Vehicle Arrangement Carports
  • Two-row Vehicle Arrangement Carports

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Solar Carport Market 

5.1. COVID-19 Landscape: Solar Carport Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Solar Carport Market, By Application

8.1. Solar Carport Market Revenue and Volume, by Application, 2024-2033

8.1.1 Residential

8.1.1.1. Market Revenue and Volume Forecast (2021-2033)

8.1.2. Commercial

8.1.2.1. Market Revenue and Volume Forecast (2021-2033)

8.1.3. Others (Government Agencies, Non-profit Organizations)

8.1.3.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 9. Global Solar Carport Market, By Type

9.1. Solar Carport Market Revenue and Volume, by Type, 2024-2033

9.1.1. Cantilever Solar Carports

9.1.1.1. Market Revenue and Volume Forecast (2021-2033)

9.1.2. T-shape Solar Carports

9.1.2.1. Market Revenue and Volume Forecast (2021-2033)

9.1.3. Semi Cantilever Solar Carports

9.1.3.1. Market Revenue and Volume Forecast (2021-2033)

9.1.4. Others (Portable Solar Carports, Customized Solar Carports)

9.1.4.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 10. Global Solar Carport Market, By Vehicle Arrangement 

10.1. Solar Carport Market Revenue and Volume, by Vehicle Arrangement, 2024-2033

10.1.1. One-row Vehicle Arrangement Carports

10.1.1.1. Market Revenue and Volume Forecast (2021-2033)

10.1.2. Two-row Vehicle Arrangement Carports

10.1.2.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 11. Global Solar Carport Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.1.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.1.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.1.4. U.S.

11.1.4.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.1.4.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.1.4.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.1.5.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.1.5.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.2. Europe

11.2.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.2.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.2.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.2.4. UK

11.2.4.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.2.4.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.2.4.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.2.5. Germany

11.2.5.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.2.5.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.2.5.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.2.6. France

11.2.6.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.2.6.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.2.6.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.2.7.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.2.7.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.3. APAC

11.3.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.3.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.3.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.3.4. India

11.3.4.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.3.4.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.3.4.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.3.5. China

11.3.5.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.3.5.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.3.5.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.3.6. Japan

11.3.6.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.3.6.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.3.6.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.3.7.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.3.7.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.4. MEA

11.4.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.4.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.4.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.4.4. GCC

11.4.4.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.4.4.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.4.4.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.4.5. North Africa

11.4.5.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.4.5.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.4.5.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.4.6. South Africa

11.4.6.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.4.6.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.4.6.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.4.7.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.4.7.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.5. Latin America

11.5.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.5.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.5.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.5.4. Brazil

11.5.4.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.5.4.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.5.4.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Volume Forecast, by Application (2021-2033)

11.5.5.2. Market Revenue and Volume Forecast, by Type (2021-2033)

11.5.5.3. Market Revenue and Volume Forecast, by Vehicle Arrangement (2021-2033)

Chapter 12. Company Profiles

12.1. Envision Solar

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. SunPower Corporation

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Solar Electric Supply

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Solaire Generation

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Martifer Solar

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Schletter Inc.

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Orion Solar Racking

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. SolarCity (now part of Tesla)

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Hanwha Q Cells

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Phoenix Solar AG

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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Prathamesh

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